Dogecoin / TetherUSUpdated DOGEUSDT ready for the breakout?
DOGEUSDT indicates an interesting development based on Plancton's Rules.
Currently, DOGEUSDT is in the process of creating higher highs on the 4-hour chart, which suggests a potential upward trend. However, it's worth noting that these higher highs are occurring below a notable 4-hour resistance level. This resistance level has proven to be significant in the past, causing price retracements and preventing further upward movement.
Traders and investors are eagerly waiting for a clear breakout above this 4-hour resistance level, which would signify a potential shift in market sentiment and a confirmation of the bullish trend. This breakout should ideally be accompanied by a surge in trading volume, providing strong confirmation of the breakout's validity.
Following Plancton's Rules, traders would be looking to initiate a new long position after a clear breakout with volume above the 4-hour resistance level. This strategy aims to capitalize on the potential upward momentum and take advantage of the bullish trend.
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Follow the Shrimp 🦐
Keep in mind.
Currently, DOGEUSDT is in the process of creating higher highs on the 4-hour chart, which suggests a potential upward trend. However, it's worth noting that these higher highs are occurring below a notable 4-hour resistance level. This resistance level has proven to be significant in the past, causing price retracements and preventing further upward movement.
Traders and investors are eagerly waiting for a clear breakout above this 4-hour resistance level, which would signify a potential shift in market sentiment and a confirmation of the bullish trend. This breakout should ideally be accompanied by a surge in trading volume, providing strong confirmation of the breakout's validity.
Following Plancton's Rules, traders would be looking to initiate a new long position after a clear breakout with volume above the 4-hour resistance level. This strategy aims to capitalize on the potential upward momentum and take advantage of the bullish trend.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Trade closed: target reached
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